American Express OPEN Forum

Follow:

Highlights:

Employee Management
Money
Social Media
See More
- Topics
  - The World
  - Technology
  - Money
  - Marketing
  - Managing
  - Lifestyle
  - Innovation
- Features
Search

Search OPEN Forum

Search OPEN Forum

Opportunity Abounds

Dewy Bradford OPEN Forum

1 Comment

Tumblr
Email

December 7, 2008

OPEN Forum Message

Business Forecasting 2012

Our special feature on forecasting sheds light on how to choose the right model, offers advice from Jack Stack and more.

Get started

Featured Response

“Great Article - thanks for posting”

DARREN CALDWELL

View all comments

My wife’s small business, based on accounting and tax prep services, is entering its third year.

1. We operate on a tight budget, stretching the earnings from the previous year’s tax rush… always holding back a chunk for tech upgrades during the Christmas sales season. This year we’re expecting our “nest egg” to go farther than ever. Operating on a budget and holding a reserve has always been a gem of financial wisdom, so nothing new there.

2. With some less stable businesses going under we’ve found a fantastic upgrade to our location, just in time to make the move before the next rush. Staying fiscally sound and looking for opportunities to grow in this environment can open up a hidden growth potential.

3. A bit of psychology can help as well. Right now we could be poised on the brink of certain economic doom, but there’s little proof of that. So the glass could just as easily be half empty, and if we are confident that our “T’s” are crossed and “I’s” dotted, then we should also behave confidently in our daily business practices, and let the forecasters rail on about doom and gloom… while we maintain the daily chores to build sound businesses upon solid business practices.

For ultimately they are forecasters, and we are business owners. We will tell the tale, our actions will decide the outcome. If we call the game before the rain, we may just squander a perfectly good game, for what might have been. Or we could be ready to play ball when the time has come, and play the game of our lives.